Most container and lid assemblies include a container and lid having a separate handle member secured to the container and a separate locking member secured to the container which may be used to secure together the container and lid. While a few container and lid assemblies do contain a latch which also serves as a handle member, there are some disadvantages with these assemblies. Specifically, some of the latch and handle assemblies such as the assembly illustrated in U.S. Pat. No. 3,416,701 consist of numerous components which must be separately manufactured, assembled and secured to the container. In addition, other handle and latch assemblies such as the one illustrated in U.S. Pat. No. 3,741,433 includes a handle molded into the product which only allows a minimal amount of weight to be carried in the container. Finally, other latch and handle assemblies protrude outwardly from the container side walls. and therefore, are susceptible to being damaged when the container and lid are stored in a confined area. Containers having latch and handle assemblies extending in an upwardly direction from the container also may be subject to storage problems since the handle and latch assembly is the component likely to have the greatest height.